‎SIIG components shareholders’ circulars on Petrochem acquisition, objects deal timeline

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Logos of Saudi Industrial Funding Neighborhood and National Petrochemical Co.


Saudi Industrial Funding Neighborhood (SIIG) revealed on the present time, March 17, the paperwork connected to its potential acquisition of National Petrochemical Co. (Petrochem).

The pass came after the CMA board accredited on March 16 the demand bought from SIIG to amplify its capital from SAR 4.5 billion to SAR 7.548 billion by issuing 304.8 million neatly-liked shares to build the excellent stake in Petrochem via a portion swap.

SIIG doc integrated a spherical to its shareholders with admire to its capital amplify to build the excellent stake in Petrochem via a portion swap.

The spherical comprises the deal particulars, phrases and prerequisites, the connected events, the acquisition measures and the connected dangers.

SIIG additionally issued the offer doc to Petrochem’s shareholder, including all particulars connected to the offer.

The deal timetable, which objects out the proposed dates for the principle events of the acquisition, used to be additionally amongst the doc.

Post-completion will offer you the chance to reinforce the operational actions, crystallize enhance potential, economize on financing and receive entry to to capital, toughen equity trading and protection exposure by equity analysis analysts, rationalize company governance arrangements and resolution-making course of, and, consequently safeguard and grow shareholders value, SIIG added.

Key Dates and Milestones

E-newsletter of the invitation for EGM of SIIG and Petrochem to vote on the deal

March 17, 2022

Date of convening EGM of both companies (first assembly)

April 10, 2022

Efficient date

April 10, 2022 (if approval is got within the valuable or 2d assembly of the Petrochem EGM and the SIIG EGM).

Suspension of Petrochem shares

April 11, 2022

Delisting Petrochem shares from Tadawul

Interior a duration of now now not lower than the third trading duration and now now not exceeding the sixth trading duration after the effective date.

List consideration shares on Tadawul

and allocating them for Petrochem’s selling shareholders

Interior a duration of now now not lower than the third trading duration and now now not exceeding the sixth trading duration after the effective date.

For Extra Mergers and Acquisitions